Adani Green Energy, controlled by billionaire Gautam Adani, announced today that it has approved raising...
Digital Desk: Adani Green Energy, controlled by billionaire Gautam Adani, announced today that it has approved raising ₹ 123 billion through qualified institutional placement.
Bloomberg reported earlier in the day that the renewables company will use the funds to diversify its green energy supply in India.
The company expects to enhance its green energy capacity by about 3 gigatonnes this fiscal year, spending approximately 140 billion, said its finance chief Phuntsok Wangyal in May.
India's renewables sector has been one of the most profitable for international investors, ranking among the top five industries in the country for overseas funds last year.
In May, two other Adani group companies, Adani Transmission and Adani Enterprise, revealed plans to raise up to $2.57 billion.
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